Wabtec Announces Expanded Credit Facility
August 17 2022 - 8:30AM
Business Wire
Wabtec Corporation (NYSE: WAB) announced today that it signed an
amended and restated credit agreement that will increase the size
of its existing revolving credit facility from $1.2 billion to $1.5
billion and added a $250 million delayed draw term loan facility.
The facility, previously due to expire in June 2023, now has a
maturity date of August 2027. The terms and provisions of the new
facility are materially unchanged from the existing credit
facility, subject to a pricing structure change revising the
LIBOR-based pricing grid to a SOFR-based pricing grid, among other
business-specific changes.
PNC Bank, N.A. is acting as the administrative agent. Citi Bank
N.A, HSBC, JPMorgan Chase Bank N.A., and TD Bank N.A. are acting as
co-syndication agents. BNP Paribas, Credit Agricole CIB, First
National Bank, MUFG LTD, and US Bank N.A. are acting as
co-documentation agents.
About Wabtec Corporation
Wabtec Corporation (NYSE: WAB) is focused on creating
transportation solutions that move and improve the world. The
company is a leading global provider of equipment, systems, digital
solutions and value-added services for the freight and transit rail
industries, as well as the mining, marine and industrial markets.
Wabtec has been a leader in the rail industry for over 150 years
and has a vision to achieve a zero-emission rail system in the U.S.
and worldwide. Visit Wabtec’s website at: www.WabtecCorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220817005050/en/
Wabtec Investor Contact Kristine Kubacki, CFA /
Kristine.Kubacki@wabtec.com / 412-450-2033
Wabtec Media Contact Deia Campanelli /
Deia.Campanelli@wabtec.com / 773-297-0482
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